Public Sector Financial Reporting Issues: Perspectives from Users and Preparers

Purpose: The past two decades have witnessed a raft of reforms introduced at all levels of Government within Australia. However, to date there has been no comprehensive analysis of the perceptions of users and preparers of public sector financial information on: (i) the appropriateness of selected conceptual framework issues; (ii) the relative usefulness of GAAP accrual-based, GFS accrual-based, and cash-based financial information for various decision specific situations; (iii) the extent to which selected accrual accounting information is considered useful for internal budgeting purposes and for external financial report users; and (iv) the appropriate accounting treatments and presentation of various information items for the general government sector as a whole. Approach: Questionnaires seeking opinions on these four areas were distributed to a sample of public sector financial statement users (both internal and external) and preparers across all federal, state, and territory departments. Findings: Our results reveal users and preparers generally do not believe that a single conceptual framework is appropriate for both private and public sectors and that any conceptual framework has to take into account the unique features of the public sector and the nature of its operations which differ from the private sector. In relation to the decision usefulness of financial information, we find that respondents consider GAAP accrual-based information the most useful, with GFS accrual-based information typically rated the least useful at departmental level. Our results on the usefulness of information for departments’ internal budgeting purposes and for external financial report users highlight the importance of asset maintenance information, which is currently not required to be separately disclosed in the financial statements, and the fact that respondents do not perceive market value of non-financial and non-traded assets as useful. We also find broad support for the financial treatment and presentation of items in accordance with the treatments and presentation required by AASB 1049

The Future of Audit

At a time when increased independence requirements for auditors, legal backing for auditing standards, and increased audit documentation requirements have occurred, this book examines key issues in the market for audit services in Australia. It investigates issues including: the understandability of audit and the state of the audit expectations gap; auditors’ business acumen and industry expertise; the auditors’ use of materiality; whether or not the increasingly prescriptive nature of auditing is creating a distraction from the ‘real’ audit task and stifling auditors’ judgement; whether or not CLERP 9 reforms involving audit partner rotation and restrictions on non-audit service provision are efficient and effective and reactions to the increasing scrutiny of auditors and audit firms by regulators. With its thorough coverage of contemporary issues, this book intersperses the authors’ summaries, interpretations and recommendations with the perceptions, expressed in their own words in order to faithfully convey their candid assessments, of users of audit reports, purchasers and suppliers of the audit product, auditing standard setters and regulators of the audit market

The Future of Audit

At a time when increased independence requirements for auditors, legal backing for auditing standards, and increased audit documentation requirements have occurred, this book examines key issues in the market for audit services in Australia. It investigates issues including: the understandability of audit and the state of the audit expectations gap; auditors’ business acumen and industry expertise; the auditors’ use of materiality; whether or not the increasingly prescriptive nature of auditing is creating a distraction from the ‘real’ audit task and stifling auditors’ judgement; whether or not CLERP 9 reforms involving audit partner rotation and restrictions on non-audit service provision are efficient and effective and reactions to the increasing scrutiny of auditors and audit firms by regulators. With its thorough coverage of contemporary issues, this book intersperses the authors’ summaries, interpretations and recommendations with the perceptions, expressed in their own words in order to faithfully convey their candid assessments, of users of audit reports, purchasers and suppliers of the audit product, auditing standard setters and regulators of the audit market

Integrating new assessment strategies into mathematics classrooms: an exploratory study in Singapore primary and secondary schools

Educational researchers and practitioners have in recent years paid mounting attention to the importance of new assessment (or the so-called alternative assessment) strategies in Mathematics instruction to better reflect the new desired educational goals and shifted values in education. However, research is wanting in this area, particularly in Singapore's educational setting. This project seeks to investigate the influence of using new assessment strategies in Mathematics teaching and learning on students' achievements, in both the cognitive and affective domains, in our local school settings. A quasi-experimental study with about 15-20 teachers at primary and lower secondary levels will be carried out to assess the impact of using a variety of strategies (e.g., projects, journal writing, oral presentation, performance tasks, student self-assessment, classroom observation and interview, etc.) for three school semesters on students' learning. The project will also look into issues concerning how to use new assessment strategies effectively in classrooms in local schools. For this purpose, data will be collected from classroom observation, interviews with teachers and students, and questionnaire surveys. It is hoped that the project will provide research-based evidence and practical suggestions for promoting the effective use of alternative assessment in Singapore Mathematics classrooms. <br/

ʻĀina (land) as a leader: A scoping review of contemporary native Hawaiian literature

Culture frames individual and community well-being. Among Kānaka ʻŌiwi, or the Native people of Hawaiʻi, ʻāina (land) is a significant pillar of culture and community. Like other Indigenous peoples, Kānaka share a profound connection with ʻāina. With the root word ʻai (to eat), ʻāina directly translates to that which feeds. Throughout this paper, ʻāina encompasses land, ocean, water, sky, and natural resources – primary sources of nourishment, healing, learning, and identity for all Kānaka. ʻĀina and leadership are interconnected in Native Hawaiian worldview, but the complexity of this relationship is not clearly defined in existing literature. Thus, this scoping review explored the ways ʻāina exemplifies leadership. Five themes emerged, with implications for Kānaka well-being. ʻĀina as elder, healer, educator, and role model embodies leadership. Together, these themes indicate that Kānaka well-being is interdependent with ʻāina leadership. For community psychologists working on a global scale, it will be important for ʻāina leadership to be recognized in social justice initiatives with Kānaka ʻŌiwi, and potentially with other Indigenous and Pacific peoples.

The relationship between organizational culture and work motivation among employees in hotel industry in Kuching, Sarawak

This study is conducted to investigate the relationship between organizational culture and work motivation among employees in the chosen hotel in Kuching, Sarawak.Independent variable in this study is the dimensions of organizational culture; leadership, communication, and reward system.Besides, the dependent variable is the level of work motivation towards organizational culture.This is a survey research which involves the use of questionnaire to collect the data. Sixty-three (63) employees were randomly chosen for this study.The questionnaire used is an adaptation questionnaires from the previous researcher.The data was analyzed using a Statistical Packages for Social Science Version 20.0 (SPSS version 20.0).The result of this study showed a significant relationship between organizational culture and its elements towards work motivation.This significant relationship was shown by leadership, communication as well as reward system

Optimization of admixture and three-layer particleboard made from oil palm empty fruit bunch and rubberwood clones

Empty fruit bunch (EFB) is a biomass that is widely available and has the potential to be used as industrial raw material especially in wood-based industries. This study focuses on producing a particleboard by incorporating EFB with two different rubberwood clones: Prang Besar (PB) 260 and RRIM 2002, respectively. PB 260 is a commercially planted clone and wood from matured (>25 year-old) trees are used by wood-based panel manufacturers. RRIM 2002 is a new clone planted at the Malaysian Rubber Board (MRB) research trial plots and consists of only 4-year-old trees. Two types of particleboards (admixture and three-layer) with different ratios were produced. The Japanese Industrial Standard (JIS-5908 2003 particleboard) was used to evaluate mechanical and dimensional stability properties of the particleboards. From the study, it was found that admixture particleboards showed superior properties compared to three-layer particleboards. Layering EFB and rubberwood significantly decreased board performance for all properties (except internal bonding). The optimum ratios of EFB and both rubberwood clones are found to be 1:1 (50% EFB: 50% rubberwood). Meanwhile, increasing the rubberwood clones ratio to 70% lowered board performance especially for EFB (30%):RRIM 2002 clone (70%) boards which showed the lowest values for all properties for both admixture and three-layer board

Tricholithobezoar Causing Gastric Perforation

A bezoar is an intraluminal mass formed by the accumulation of undigested material in the gastrointestinal tract. Trichobezoar is a rare condition seen almost exclusively in young women with trichotillomania and trichotillophagia. When not recognized, the trichobezoar continues to grow, which increases the risk of severe complications such as gastric ulceration and even perforation. Formation of a gallstone within the trichobezoar (tricholithobezoar) is an event that has not yet been described. We report the case of a 22-year-old woman admitted to the emergency room with signals and symptoms of an epigastric mass and perforative acute abdomen. Radiological study revealed bilateral pneumoperitoneum. Personal history revealed depressive syndrome, trichotillomania and trichophagia. With a diagnosis of visceral perforation, an urgent exploratory laparotomy was performed. This confirmed the diagnosis of gastric perforation due to a large trichobezoar with the formation of a gastrolith that was removed by anterior gastrotomy. Biochemical study of the gastric stone revealed that it was composed of bile salts. There were no complications. The patient was discharged on the 5th postoperative day and was referred for psychiatric treatment

Implication of Genetic Variants Near TCF7L2, SLC30A8, HHEX, CDKAL1, CDKN2A/B, IGF2BP2, and FTO in Type 2 Diabetes and Obesity in 6,719 Asians

OBJECTIVE— Recent genome-wide association studies have identified six novel genes for type 2 diabetes and obesity and confirmed TCF7L2 as the major type 2 diabetes gene to date in Europeans. However, the implications of these genes in Asians are unclear